MONTREAL, Aug. 14 /PRNewswire-FirstCall/ - CAE has signed an agreement to acquire Flightscape Inc. for approximately C$18 million. Flightscape is an Ottawa-based safety company providing expertise in flight data analysis and flight sciences.
Flightscape's core product and product service offerings are based on the gathering and analysis of aircraft flight data to deliver improved flight safety. It offers a suite of aviation safety products and services related to flight operations quality assurance, flight data management, incident investigation and accident prevention. The company's customers include many leading airlines and a majority of international investigation authorities and OEMs. Flightscape also powers IATA's web-based Flight Data Analysis Service for airlines seeking an outsourced solution that provides highly specialized expertise, infrastructure savings and a turnkey safety solution.
"Our overriding mission is to enhance the safety and operational efficiency of our customers. The acquisition of Flightscape is part of our strategy to accomplish that goal," said Jeff Roberts, CAE's Group President, Innovation and Civil Training & Services. "CAE can bring its global reach, customer relationships and brand to grow this business and to extend its products and product service offerings into new areas. Moreover, Flightscape's capabilities will enhance CAE's own offerings for simulation training products as well as for the design and delivery of training services."
"Flightscape is proud to be associated with CAE, a global leader in training and simulation," said Flightscape owners Robert Runolfson, MichaelPoole, and Robert Hoyle. "Flightscape's focus on accident investigation and prevention programs are a natural fit with CAE. We believe this move will accelerate our growth and enhance the products and services we are able to offer our customers."
The transaction is expected to close by August 31, 2007.
Flightscape is a flight safety company providing expertise in flight data analysis and flight sciences. Flightscape develops software solutions that enable the effective study and understanding of recorded flight data to improve safety, maintenance and flight operations. The company powers IATA's web-based Flight Data Analysis Service to provide Flight Data Monitoring and Flight Operations Quality Assurance as an out-source service to airlines who do not wish to invest in the infrastructure of an in-house program. Flightscape develops flight recorder laboratories including complete turnkey systems. Flightscape's mission is to improve safety on an international basis by having the operator, investigative and aircraft manufacturer communities collaborate on flight data analysis issues with a common suite of continually advancing tools.
CAE (NYSE: CGT; TSX: CAE) is a world leader in providing simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe. With annual revenues exceeding C$1 billion, CAE employs more than 5,500 people at more than 75 sites and training locations in 19 countries. We have the largest installed base of civil and military full-flight simulators and training devices. Through our global network of 24 aviation training centres, equipped with over 115 full-flight simulators, we train more than 50,000 crew members yearly. We also offer modelling and simulation software to various market segments and have a professional services division assisting customers with a wide range of simulation-based needs.
SOURCE CAE INC.